Russia has more billionaires than in other developing countries, said the chief economist of the European Bank for reconstruction and development (EBRD) Sergei Guriev on organized by the “Vedomosti” conference “Effective instruments of growth”.

“We have more billionaires than any other developing region. In itself is not bad, but the majority of the population concerned with the question: how do these rich people became rich?” – quoted Guriev RBC.

The economist also recalled that in Russia most of the wealth earned in the commodity sectors. “People ask the question, why commodities billionaires have earned their wealth, and that our region unique,” he said.
In most developing countries only a minority reduced the gap in income from residents of developed countries.

For Russia, this is only 40% of the population, he said. The gap in income from residents of developed countries, said Guriev, partly due to the growing income inequality among people in developing countries.

According to the economist, in conditions when the majority of the population feels the injustice, reforms are not supported and very likely coming to power of the populists.

Sergei Guriev, recall, became the first Russian to hold the post of chief economist of the EBRD. He is a doctor economic and the candidate of physical and mathematical Sciences, Professor. He headed the Center for economic and financial research and development, was the economic adviser to the government, he joined the Board of Directors of Sberbank, Rosselkhozbank and the Agency for housing mortgage lending.

In 2013, Guriev, emigrated to France after was questioned along with a group of other professionals who participated in public examination “the second business of” Yukos. In France until the summer of 2016, he was a Professor at the Paris Institute of political studies Sciences Po.

“Business experts” were terminated in may 2015. The investigation has not found corpus delicti in the actions of the scientists who participated in the examination of the “second Yukos case”, and also advocated for the liberalization of the Criminal code of the Russian Federation.

The EBRD was created by Western governments in 1991 to help former socialist countries make the transition to capitalism. The Charter of the Bank provides only those countries “committed to democracy”. As an international organisation, the EBRD enjoys a number of privileges such as legal immunity of the staff. The headquarters of the EBRD in London.

The EBRD invests mainly in private enterprises, usually together with commercial partners, but also works with public companies to support privatisation, restructuring and improvement of municipal services.

Guriev: Russia has more billionaires than any other developing region 17.11.2016

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